In April 2010 the President of Nigeria, his Excellency President Goodluck Jonathan signed the long awaited Nigerian Local Content Act. www.ncdmb.gov.ng/
The objective of the Act is to
• Create an in-country opportunity for economic growth through local capacity building by obliging the oil & gas industry to purchase all goods and services that are made and provided locally.
• To create in-country technical contribution through the partnering of foreign companies with local companies to take advantage of the opportunities offered by the Act.
The Act intends to meet its objectives over a period of some years, through the setting of bench marks. By this way, Nigeria will be able to uplift and industrialise its economy and provide employment to its citizens.
Nigerian Foundries Ltd has been in the forefront of Local Content way back in 2003 when it supplied manhole covers, gratings and weights for lifting arms to the Nigeria LNG Ltd at Bonny island (trains 3-6), Nigeria.
Listening to this call of local content, in 2006, NFL promoters partnered with Metec Italia and set up an aluminium foundry called Metec West Africa, which produces sacrificial anodes for the marine, and Oil & Gas industry of Gulf of Guinea. (www.metecgroup.com)
NFL management has taken an active role on Local Content through the Manufacturers Association of Nigeria and our Managing Director Mr Vassily Barberopoulos has been elected the Chairman of the MAN Local Content Group. The objective of the MANLOC Group is ".to set a platform for manufacturers to promote the ideals of the Federal Government of Nigeria initiative towards local content (Nigerian Content Bill) and its further development into a national policy for the entire country whilst ensuring compliance to requisite standards."
NFL and its sister companies welcome all foreign companies that wish to partner with us and take advantage of the local content Bill to manufacture and supply goods and services to the Nigerian and ECOWAS (Economic Community of West African States) market.